Some China Evergrande Group bondholders have not received overdue coupon payments after the end of a month-long grace period, putting the world’s most indebted property developer on the brink of its first default on offshore notes. S&P Global Ratings said default “looks inevitable.”
A group of Kaisa Group Holdings Ltd. bondholders have sent the beleaguered property firm a formal forbearance proposal, which may buy some time and help it avoid a default on $400 million dollar bonds due Tuesday.
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